Delaine,
an e-retailer of automotive parts and services, launched its online store
CarMonkeys.com little more than a year ago, and it didn’t take long for the
online store to make its mark in the recycled automotive parts market.
CarMonkeys.com
is an online car, van and SUV parts distributor of used automotive parts for a
wide range of vehicle makes and models. In the first quarter of fiscal 2014
Delaine also launched LowMileageParts.com and advanced from “development
stage.” Parts are shipped straight from one of the company’s many warehouses
and auto dismantling centers straight to the customer or their mechanic.
Who wants
to buy used automotive parts? Quite a few consumers, retailers, truck and car
fleet owners and auto repair facilities, apparently.
In the
company’s recently reported fiscal 2014 financial results for the period ended
June 30, 2014, Delaine posted gross transactions volume at $1.85 million,
compared to $61,000 for the prior-year period. Net revenue for fiscal 2014
increased to $672,858 compared to $3,210 for fiscal 2013. Delaine also
increased its cash position to $123,331 in fiscal 2014 compared to $41,334 the
prior year.
Fourth-quarter
earnings of $198,000 and total assets growth of 44% effected growth in
shareholder equity, which increased by 31%. A comparison of the fourth-quarter
performance and the average of the first three quarters shows gross transaction
volume growth of 43% and revenue growth of 25%.
Based on
these results, auto industry trends and several corporate factors, Delaine is
optimistic it will achieve “even greater increases in transaction volume and
revenues.” The company anticipates it will benefit from a newly appointed chief
operating officer with e-commerce experience, heightened marketing initiatives,
repeat sales, additional product introductions, increased personnel to
accommodate demand, and extended labor installation warranties.
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